Important Question Answer Series For HPSSC JOA Accounts (Post Code -932) Set-2
||Important Question Answer Series For HPSSC JOA Accounts (Post Code -932) Set-2||Important Question Answer Series For HPSSSB Junior Office Assistant Accounts (Post Code -932) Set-2||
21. Any reserve which is not apparent on the face of the balance sheet is known as
(a) Secret reserve.
(b) Hidden reserve.
(c) Inner reserve.
(d) Any of these.
22. A provision is a
(a) General reserve.
(b) Specific reserve.
(c) Capital reserve.
(d) None of these.
23. If a company issues 1000 equity shares of Rs. 10 each will be legally all right ifitasks an application,
(a) Rs. 2.50
(b) Rs. 3.50
(c) Rs. 4.50
(d) Rs. 5,00
24. If a share of Rs. 10 issued at a premium of Re.1, on which Rs. 9 (including premium) have been called and Rs. 7 (including premium) paid is forfeited the capital account should be debited by
(a) Rs. 8
(b) Rs. 9
(c) Rs. 7
(d) Rs. 6
25. A partnership firm is compulsorily dissolved when its business becomes illegal is described inwhich section of Partnership Act.
(a) Section 42
(b) Section 43
(c) Section 41
(d) Section 44
26. If vendors are issued fully paid shares of Rs. 1,00,000 in consideration of Net Assets of Rs. 1,20,000, the balance of Rs. 20,000 will be credited to
(a) Goodwill Account.
(b) Capital Reserve Account.
(c) Profit and Loss Account.
(d) Vendor’s Account,
(e) None of these
27. Partner’s salaries to be debited to
(a) Profit and loss Account.
(b) Trading Account
(C) Profit and Loss Appropriation Account.
(d) None of these.
28. In the absence of any partnership deed, interest on partner’s loan will be allowed at the rate of
(a) 5%
(b) 6%
(C) 9%
(d) 12%
29. IfA and B who are sharing profit in the ratio of 3:1. They admit C to one profits, the profit sharing ratio shall be
(a) A: 9/16; B: 3/16; C: 4/16
(b) A: 10/16; B: 2/16; C:4/16
(c) A: 8/16; B: 4/16; C:4/16
(d) A: 7/16;B: 5/16; C: 4/16
